COBALT represented AB Lietuvos radijo ir televizijos centras (Telecentras) in the sale of data transmission and digital television business developed under the „Mezon“ brand. The buyer is a Bitė Group company which will also take over part of Telecentras employees and infrastructure.
The transaction has yet to be approved by the Competition Council and other supervisory authorities. Upon completion of the transaction, about 150 engineers, commerce, finance and client service specialists as well as the “Mezon” brand, clients, frequencies, network and information systems will go over to the Bitė Group.
Telecentras has about 95 000 Internet service users, and provides radio and TV broadcast transmission, data centre, IT, infrastructure rental, telephony solutions and other services. According to the company, “Mezon” Internet services are currently used by 97 000 clients, with over 11 000 clients watching “Mezon” IPTV.
Bitė Group is a group of telecommunications companies operating in Lithuania, providing not only traditional mobile communication or Internet services, but also creating smart solutions for private and business clients.
COBALT prepared the transaction documents, represented the client in the negotiations, and provided advice on all issues related to the transaction. The team consisted of COBALT partner, Head of Transactions and Finance Department Elijus Burgis, partner Rasa Zasciurinskaite, senior associate Julija Timoscenko, and senior associate Justinas Sileika.